10-QPeriod: Q2 FY2008

SHERWIN WILLIAMS CO Quarterly Report for Q2 Ended Jun 30, 2008

Filed July 22, 2008For Securities:SHW

Summary

This 10-Q filing for The Sherwin-Williams Company (SHW) for the period ending June 29, 2008, provides an update on share repurchase activities and legal matters. The company continued to execute its share repurchase program, buying back a significant number of shares during the second quarter of 2008. This demonstrates a commitment to returning capital to shareholders, a key consideration for investors. The filing also references ongoing environmental and litigation matters, directing investors to detailed information within the Management's Discussion and Analysis and the Notes to the Financial Statements. While specific financial performance details are not detailed in the provided excerpts, the continued share buybacks suggest management's confidence in the company's future prospects and its ability to generate sufficient cash flow.

Financial Highlights

44 data points
Beta

Revenue

$2.23B

43.6% Gross Margin

Net Income

$171.68M

7.7% Net Margin

EPS (Diluted)

$0.48

Total Assets

$5.17B

Cash & Equivalents

$45.57M

Free Cash Flow

$191.91M

Financial Statements
Beta
Revenue$2.23B
Cost of Revenue$1.26B
Gross Profit$972.90M
SG&A Expenses$676.98M
Net Income$171.68M
EPS (Basic)$0.49
EPS (Diluted)$0.48
Shares Outstanding (Basic)348.66M
Shares Outstanding (Diluted)356.05M

Key Highlights

  • 1The company repurchased 2,106,865 shares of its common stock during the second quarter of 2008.
  • 2Share repurchases were conducted under the company's publicly announced share repurchase program.
  • 3The average price paid for shares repurchased under the program during the quarter was $55.55.
  • 4As of June 30, 2008, Sherwin-Williams had authorization to purchase an additional 20,793,135 shares.
  • 5The share repurchase program has no specified expiration date, indicating a potential ongoing strategy.
  • 6The filing includes certifications from the CEO and CFO regarding the accuracy of the financial reporting.
  • 7An amendment to the company's revolving credit facility agreement is referenced, suggesting potential changes or updates to its financing arrangements.

Frequently Asked Questions

The company actively repurchased its own stock, buying back a total of 2,106,865 shares under its publicly announced share repurchase program during the second quarter of 2008.

As of June 30, 2008, the company had the authorization to purchase an additional 20,793,135 shares of its common stock under its repurchase program, which has no expiration date.

Investors should refer to the 'Management’s Discussion and Analysis of Financial Condition and Results of Operations' and 'Notes to Condensed Consolidated Financial Statements,' specifically Notes H and I, which are incorporated by reference into this filing and provide details on environmental-related liabilities and litigation.

The filing references a First Amendment, dated May 30, 2008, to the Second Amended and Restated Five-Year Competitive Advance and Revolving Credit Facility Agreement. This indicates there have been modifications to the company's credit arrangements.